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Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared UPDATE 2-'Sex' less scintillating at box office 30 May 2010 Israel boards Gaza-bound ships, 15 dead: reports 1:56am EDT White House says BP's new operation to start soon | Video 30 May 2010 France warns on credit rating 30 May 2010 WRAPUP 1-U.S. Gulf Coast warned oil may leak until August 1:01am EDT Euro steadies after worst month since early 2009 | Video 2:46am EDT Bernanke, Trichet see key emerging economies role 30 May 2010 WRAPUP 5-BP, Obama beset by growing Gulf spill frustration 30 May 2010 WRAPUP 4-BP, Obama face clamor to halt oil spill 'crime' 30 May 2010 Study finds iPads cost most in Europe and UK, cheapest in U.S. 30 May 2010 Israel boards Gaza-bound ships, 15 dead: reports 1:56am EDT France warns on credit rating 30 May 2010 Gulf Coast warned oil may leak until August | Video 3:01am EDT WRAPUP 1-U.S. Gulf Coast warned oil may leak until August 1:01am EDT 2,000-calorie milkshake tops list of worst drinks 27 May 2010 Do your colleagues look better on Mondays? 30 May 2010 Tropical Storm Agatha kills 96 in Central America | Video 30 May 2010 Bangladesh blocks Facebook over caricatures 30 May 2010 BP well disaster stuns hardened oil men 27 May 2010 White House says BP's new operation to start soon | Video 30 May 2010 Director Guillermo del Toro leaves "The Hobbit" Borys Kit Sun May 30, 2010 10:07pm EDT LOS ANGELES (Hollywood Reporter) - After spending the last two years developing "The Hobbit" as his latest directing project, Guillermo del Toro has stepped down as director of the J.R.R. Tolkien adaptation amid . Entertainment | Film "In light of ongoing delays in the setting of a start date for filming "The Hobbit," I am faced with the hardest decision of my life," Guillermo wrote in his announcement on "Lord of the Rings" fansite TheOneRing.net. "After nearly two years of living, breathing and designing a world as rich as Tolkien's Middle Earth, I must, with great regret, take leave from helming these wonderful pictures." He said he would continue to co-write the screenplays with Peter Jackson, Fran Walsh and Phillippa Boyens. The walls started to crumble for del Toro in recent weeks as the uncertain future of MGM put the project, which was to have been two movies, in limbo. The producers had been hoping to be in production this summer but no greenlight was forthcoming. That put pressure del Toro, who has a laundry list of projects outlined for the next 10 years, in a position of cutting bait or staying on for more uncertainty. The director moved his wife and children to New Zealand for the shoot, and the first movie was aiming for a December 2012 release. "The blessings have been plenty, but the mounting pressures of conflicting schedules have overwhelmed the time slot originally allocated for the project," said del Toro in his statement. "Both as a co-writer and as a director, I wish the production nothing but the very best of luck and I will be first in line to see the finished product. I remain an ally to it and its makers, present and future, and fully support a smooth transition to a new director." Jackson stated he understood del Toro's position: "We understand how the protracted development time on these two films, due to reasons beyond anyone's control ... has compromised his commitment to other long term projects. The bottom line is that Guillermo just didn't feel he could commit six years to living in New Zealand, exclusively making these films, when his original commitment was for three years." Jackson said development on "Hobbit" would continue apace, although his statement did not specifically address any possible postponement of the release date. "New Line and Warner Bros. will sit down with us this week, to ensure a smooth and uneventful transition, as we secure a new director for the Hobbit. We do not anticipate any delay or disruption to ongoing pre-production work," he said. Entertainment Film Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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